Bankia was a Spanish bank formed in 2010 through the merger of several savings banks, including Caja Madrid, Caja Canarias, and Caja La Rioja. It was created to strengthen the financial sector in Spain during the economic crisis. In 2012, Bankia faced significant financial difficulties and required a bailout from the Spanish government. The bank was later restructured and partially privatized, with shares being sold to private investors. Today, Bankia operates as a commercial bank, offering various financial services to individuals and businesses in Spain.